Warren Buffett’s Berkshire Hathaway Inc. on Saturday reported improved operating results as it extended its rebound from the early stages of the pandemic, even as it cut back some stock holdings and boosted its cash hoard to a record.
Berkshire also said it repurchased $7.6 billion of its own stock in the third quarter, reflecting its need to put cash to work as share prices regularly set new highs and purchases of whole companies appeared too expensive.
